According to Fixygen, the mining company Ferrexpo plc, whose main assets are located in Ukraine, has announced that it will hold its annual shareholders’ meeting on June 29 of this year.
According to the company’s statement, the total number of shares whose holders are entitled to vote at the meeting is 598,137,142 common shares.
It is specified that only one class of shares is outstanding, and each share carries one vote; therefore, the total number of voting rights that can be exercised at the meeting is 598,137,142.
This information from Ferrexpo is provided in accordance with Section 311A of the UK Companies Act 2006.
In a letter from the company’s interim acting chairman, Lucio Genovese, on behalf of the board of directors of Ferrexpo plc to the shareholders, it is specified that the nineteenth annual general meeting will be held at 11:00 a.m. on June 29, 2026, at the offices of Herbert Smith Freehills Kramer LLP, Exchange House, Primrose Street, London, EC2A 2EG.
He urged shareholders to participate in the meeting by casting their votes by proxy prior to the start of the general meeting or by voting online prior to the start of the general meeting. Shareholders are advised to appoint the chairman of the meeting as their proxy. To vote by proxy, shareholders must complete, sign, and return the appropriate proxy form. The deadline for receiving proxy appointments and votes is 11:00 a.m. on June 25, 2026.
Voting on all resolutions will be conducted by a show of hands, and the voting results will be announced via the Regulatory Information Service and published on the Group’s website as soon as possible after the general meeting.
Genovese notes that the company aims to raise at least $100 million, which is necessary to finance support for Ferrexpo Group’s operations over the next 18 months. The Group’s operations have been significantly impacted since the start of Russia’s full-scale invasion of Ukraine in 2022, leading to a reduction in operational activities and periods of complete suspension of operations. This has significantly impacted the group’s revenue.
Furthermore, he notes that the decision by Ukraine’s tax authorities to suspend VAT refunds starting in March 2025, amounting to approximately $90 million, has further significantly impacted the group’s liquidity. The company intends to complete the equity offering as soon as possible and is actively working toward this goal. However, it is not yet in a position to officially launch the equity offering.
“Until the equity offering is ready to launch, the company cannot publish its audited financial results for the year ended December 31, 2025, on a going concern basis, as the company and its auditors require sufficient assurance regarding the commencement and successful completion of the equity offering prior to signing the financial statements. Due to the delay in the equity offering and given the dependence on the commencement of the equity offering for the publication of the audited financial statements for the year ended December 31, 2025, on a going concern basis, the company is unable to finalize the audited annual report and financial statements for the year ended December 31, 2025, but aims to do so as soon as possible,” the letter to shareholders states.
According to the statement, this general meeting of shareholders is being held solely to consider routine matters, namely the re-election of directors and the renewal of the authority granted to conduct market purchases of the company’s own shares, as well as the convening of a general meeting with 14 days’ notice. All directors will stand for re-election at the 2026 general meeting of shareholders, with the exception of Mr. Vitaly Lisovenko, who, as previously announced, will step down from the company’s board of directors upon the conclusion of the general meeting.
According to the information, the meeting proposes, in particular, the re-election of Stuart Brown, Nikolai Kladiev, Lucio Genovese, and Fiona Macaulay as members of the board of directors.
As reported, Ferrexpo is delaying the publication of its audited report for 2025.
It was also reported that the London Stock Exchange (LSE) suspended trading in Ferrexpo shares, while the company warned shareholders twice in the second half of April about the suspension of its listing and trading due to its inability to publish its annual financial statements on time. Most recently, on April 28, Ferrexpo noted that it had received indicative, non-binding expressions of interest from institutional investors regarding a potential capital raise of over $100 million, on which the publication of the report also depends, but that it would not be able to do so by the end of April.
Ferrexpo owns a 100% stake in Eristovsky GOK LLC, 99.9% in Belanovsky GOK LLC, and 100% of the shares in Poltavsky GOK PJSC.
